At 00:00 UTC on September 8, 2026, Plasma (XPL) traded near $0.0929, according to CoinGecko's daily snapshot. That was up about 10.7% from $0.0839 on September 1 and about 94.5% below the all-time high of $1.68 set on September 27, 2025. The bigger date was 17 days away. On September 25, 2026, Plasma's tokenomics schedule released the first third of the team and investor allocations, roughly 1.67 billion XPL, plus a monthly ecosystem tranche. That added more than half again to the circulating supply.
The week in numbers (CoinGecko, daily snapshots)
| Metric | Sept 1, 2026 | Sept 8, 2026 |
|---|---|---|
| Price | $0.0839 | $0.0929 |
| Market cap | $233.0M | $258.0M |
| 24h trading volume (all venues) | not checked | $58.6M |
| Implied circulating supply (market cap / price) | ~2.78B XPL | ~2.78B XPL |
The earlier version of this article took an intraday reading at 13:46 UTC: $0.09346 and +13.1% over seven days. CoinGecko's midnight snapshots give the smaller weekly gain above. Both describe the same move at different times of day.
Why September 25, 2026 mattered
Plasma's tokenomics documentation sets a fixed supply of 10 billion XPL at the mainnet beta launch on September 25, 2025. Validator rewards can add to that later. The allocation is:
- Public sale: 10% (1 billion XPL). Non-US buyers were unlocked at launch. US buyers had a 12-month lockup that ended on July 28, 2026.
- Ecosystem and growth: 40% (4 billion XPL). 8% was unlocked at launch, and the remaining 32% unlocks monthly until September 25, 2028.
- Team: 25% (2.5 billion XPL). One third has a one-year cliff ending September 25, 2026, and the rest unlocks monthly until September 25, 2028.
- Investors: 25% (2.5 billion XPL), on the same schedule as the team.
From those numbers, the cliff released about 833 million team XPL and about 833 million investor XPL, roughly 1.67 billion in total. The monthly ecosystem tranche, 3.2 billion over 36 months or about 89 million, landed the same day. Together that is about 1.76 billion XPL, compared with about 2.78 billion in circulation on September 8.
What the supply data showed afterwards
CoinGecko's figures imply about 2.78 billion XPL in circulation on September 24, 2026 ($250.0M market cap at $0.0900). On September 26 the figure was about 4.53 billion ($519.6M at $0.1146), an increase of roughly 1.75 billion that matches the schedule. The price rose about 27% from September 24 to September 26, so the unlock did not lead to an immediate price drop in the daily data. Newly unlocked tokens are not necessarily sold.
XPL unlock dates, from launch to 2028
Step through the dated changes to XPL supply and price that the article covers, from the September 2025 launch to the final monthly unlock in September 2028.
- 2025-09-25Mainnet beta and XPL launchconfirmed
Plasma launched with a fixed supply of 10 billion XPL. Non-US public-sale buyers and 8% of the ecosystem allocation were unlocked at launch.
- 2025-09-27All-time highconfirmed
XPL set its all-time high of $1.68, according to CoinGecko.
- 2026-06-10All-time lowconfirmed
XPL set its all-time low of $0.0601, according to CoinGecko.
- 2026-07-28US public-sale lockup endsconfirmed
The 12-month lockup on US buyers of the public sale (10%, 1 billion XPL) ended.
- 2026-09-08Up about 10.7% in a weekconfirmed
XPL traded near $0.0929, up from $0.0839 on September 1, with about 2.78 billion XPL in circulation (implied from market cap and price).
- 2026-09-25Team and investor cliffconfirmed
One third of the team and investor allocations, roughly 1.67 billion XPL, unlocked, plus a monthly ecosystem tranche of about 89 million: about 1.76 billion XPL in total.
- 2026-09-26Supply jumps, price upconfirmed
Implied circulating supply rose from about 2.78 billion on September 24 to about 4.53 billion. The price rose about 27% over those two days, to $0.1146.
- 2026-10-25Where XPL stands nowconfirmed
XPL was $0.0718, about 23% below the September 8 level, with about 4.76 billion of 10 billion XPL circulating and a $341.8M market cap.
- 2028-09-25Last monthly unlocksexpected
The remaining team, investor and ecosystem allocations keep unlocking monthly until this date, under Plasma's tokenomics schedule.
This lists dates and figures from Plasma's own documentation and CoinGecko snapshots only: it does not show the monthly unlock sizes between dates, does not include validator-reward inflation, and cannot show whether unlocked tokens are sold.
Where XPL stands now (October 25, 2026)
CoinGecko reported these figures at 11:09 UTC on October 25, 2026:
- Price: $0.0718. That is about 23% below the September 8 level and about 95.7% below the all-time high.
- Recent change: -8.8% over seven days and -37.6% over 30 days.
- Market cap: $341.8M, rank #131.
- Circulating supply: about 4.76 billion of 10 billion XPL.
- All-time low: $0.0601, set on June 10, 2026.
The market cap is higher than in early September even though the price is lower, because more tokens are now circulating. The rest of the team, investor and ecosystem allocations keep unlocking monthly until September 2028. Any unit price has to absorb that growing supply.
What Plasma is
Plasma is a Layer 1 blockchain built for stablecoin payments. Its mainnet beta and the XPL token launched on September 25, 2025. Plasma's site says zero-fee USD₮ transfers apply to Plasma routes, and that third-party fees may apply. According to the tokenomics documentation, base transaction fees are burned under an EIP-1559-style model. Validator rewards start at 5% annual inflation and fall by 0.5% a year to 3%, but inflation begins only once external validators and stake delegation go live.
Limitations: the price and supply figures come from one aggregator, CoinGecko, and the unlock terms come only from Plasma's own documentation. Implied circulating supply is calculated from market cap and price. This is not trading or investment advice, and crypto assets can lose most of their value.
